Consumer Market
The consumer market refers to the sector of the economy where individuals purchase goods and services for personal use. This market includes a wide range of products, from everyday items like food and clothing to luxury goods and electronics. Consumers make decisions based on their needs, preferences, and budget, influencing demand and pricing.
In the consumer market, businesses aim to understand consumer behavior to effectively target their products. Marketing strategies, such as advertising and promotions, are often employed to attract potential buyers. Key factors affecting consumer choices include quality, price, brand reputation, and trends in society.